AL-Azhar University in Gaza

Business Faculty

Accounting Department

Level "4"

EXPOSURE DRAFT

A proposed statement on auditing standard

Communicating internal control

related matters identified in an audit (Redrafted)

Partial requirement of seminar in accounting

Prepared by

Bakr Zohair EL-Daour

Supervised by

Dr. Emad Abu SHaaban

14, March, 2010

Contents

Issue date: December 21, 2009

Effective Date: December 15, 2010.

Comments period

Comments are requested by April 30, 2010

This Exposure Draft will supersede SAS No. 115, and SAS No. 115

supersedes SAS No. 112, SAS No. 112 supersedes SAS No. 60

Work plan

Introduction

Objective

Definitions by this exposure draft

• Deficiency in internal control, Material weakness, Reasonable possibility, significant deficiency

Requirements by this exposure draft

• Determination of Whether Deficiencies in Internal Control Have Been Identified
• Evaluating the Severity of Identified Deficiencies in Internal Control
• Communication of Deficiencies in Internal Control

Written Communication

Comparison of the exposure drafted with ISA NO. 265 and SAS NO. 115